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REGISTERED NUMBER: SC368448 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

FASSFERN MUSSELS LIMITED

FASSFERN MUSSELS LIMITED (REGISTERED NUMBER: SC368448)






CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


FASSFERN MUSSELS LIMITED

COMPANY INFORMATION
For The Year Ended 30 June 2023







DIRECTORS: Alan Patrick Byrne
Lawrence David Byrne





REGISTERED OFFICE: Garvan Glen
Garvan
FORT WILLIAM
Inverness-shire
PH33 7AW





REGISTERED NUMBER: SC368448 (Scotland)





ACCOUNTANTS: R A Clement Associates
5 Argyll Square
OBAN
Argyll
PA34 4AZ

FASSFERN MUSSELS LIMITED (REGISTERED NUMBER: SC368448)

BALANCE SHEET
30 June 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 759,310 755,742
Investments 6 2,000 2,000
761,310 757,742

CURRENT ASSETS
Stocks 13,000 11,000
Debtors 7 62,851 73,391
Prepayments and accrued income 8,838 7,933
Cash at bank 141,483 210,434
226,172 302,758
CREDITORS
Amounts falling due within one year 8 131,746 192,791
NET CURRENT ASSETS 94,426 109,967
TOTAL ASSETS LESS CURRENT
LIABILITIES

855,736

867,709

CREDITORS
Amounts falling due after more than one year 9 (110,044 ) (143,598 )

PROVISIONS FOR LIABILITIES (104,501 ) (102,465 )

ACCRUALS AND DEFERRED INCOME (188,826 ) (203,637 )
NET ASSETS 452,365 418,009

FASSFERN MUSSELS LIMITED (REGISTERED NUMBER: SC368448)

BALANCE SHEET - continued
30 June 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 452,165 417,809
SHAREHOLDERS' FUNDS 452,365 418,009

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 March 2024 and were signed on its behalf by:





Alan Patrick Byrne - Director


FASSFERN MUSSELS LIMITED (REGISTERED NUMBER: SC368448)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 30 June 2023

1. STATUTORY INFORMATION

Fassfern Mussels Limited is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - not provided
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 20% on reducing balance
Motor vehicles - 25% on reducing balance
Boats - 15% on reducing balance and 6.67% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

FASSFERN MUSSELS LIMITED (REGISTERED NUMBER: SC368448)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 20,000
AMORTISATION
At 1 July 2022
and 30 June 2023 20,000
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 July 2022 8,068 812,153 1,941
Additions - 85,962 -
Disposals - - -
At 30 June 2023 8,068 898,115 1,941
DEPRECIATION
At 1 July 2022 - 536,240 1,600
Charge for year - 54,281 68
Eliminated on disposal - - -
At 30 June 2023 - 590,521 1,668
NET BOOK VALUE
At 30 June 2023 8,068 307,594 273
At 30 June 2022 8,068 275,913 341

FASSFERN MUSSELS LIMITED (REGISTERED NUMBER: SC368448)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2023

5. TANGIBLE FIXED ASSETS - continued

Motor
vehicles Boats Totals
£    £    £   
COST
At 1 July 2022 76,692 591,304 1,490,158
Additions 26,950 - 112,912
Disposals (41,310 ) - (41,310 )
At 30 June 2023 62,332 591,304 1,561,760
DEPRECIATION
At 1 July 2022 41,584 154,992 734,416
Charge for year 12,040 29,058 95,447
Eliminated on disposal (27,413 ) - (27,413 )
At 30 June 2023 26,211 184,050 802,450
NET BOOK VALUE
At 30 June 2023 36,121 407,254 759,310
At 30 June 2022 35,108 436,312 755,742

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 July 2022
and 30 June 2023 2,000
NET BOOK VALUE
At 30 June 2023 2,000
At 30 June 2022 2,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 32,707 39,245
Other debtors 30,144 34,146
62,851 73,391

FASSFERN MUSSELS LIMITED (REGISTERED NUMBER: SC368448)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 30 June 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 22,000 20,515
Trade creditors 13,998 63,242
Taxation and social security 252 99
Other creditors 95,496 108,935
131,746 192,791

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 110,044 133,378
Other creditors - 10,220
110,044 143,598